Everything was at a standstill in the Corona epidemic, then how did Mukesh Ambani reach 5th place in the world’s rich list?
On Wednesday, Mukesh Ambani, one of the richest industrialists in Forbes’ list of billionaires, has been ranked fifth among the world’s rich. By the way, in the Forbes list of March, Mukesh Ambani was 21st in this magazine. This was the time when the entire world was engulfed by the Corona epidemic and Ambani attracted more than $ 10 billion of investment a month for its digital platform.
Forbes was ranked 21st on the March list, with assets of $ 36.8 billion.
Mukesh Ambani, who was ranked 21st in Forbes’ March list, had assets worth $ 36.8 billion at the time, but now that the corona epidemic hit the world, the number of deaths in the world has reached nearly half a million and thousands of people die daily. Going to the mouth of, then Mukesh Ambani’s net worth has crossed $ 74.6 billion during this period. That is, the world’s 5th richest Mukesh Ambani currently owns assets worth more than Rs 14 lakh crore.
Reliance Company Gets $ 10 Billion Investment In Corona Era
The question is that in the Corona Lockdown, when the entire world economy was closed and the coronavirus epidemic had locked the industry globally due to which the stock market was groaning badly, then Mukesh Ambani had such C was a magic wand that did not make any difference to his earnings. In contrast, Mukesh Ambani’s Reliance Industries Limited earned $ 10 billion more during the Corona era itself. As simple as this question is, the answer is as simple as that.
Reliance Chairman Mukesh Ambani specializes in identifying market trends
Billionaire Mukesh Ambani’s role as the fifth richest industrialist in the world has been his foresight, a strategy adopted by the changing market. When Mukesh Ambani, an expert in identifying the market stance, came to a standstill during the lockdown, his first step was to become a debt-free company of RIL and the second step was to change the business stream in the changing times.
Mukesh Ambani seems to have got a chance of changing wind quickly
Mukesh Ambani seems to have sensed the changing wind. This was the reason that he decided to move out of the business of oil and petrochemicals sinking in the Corona era and move towards a fast growing consumer business. Before March 2021, he set a target to bring his oil, retail and telecommunications group’s net debt to $ 20 billion to zero for penetration and investment in the consumer business.
Plans to make RIL debt-free and enter consumer business
Mukesh Ambani formulated a plan to make RIL debt-free and switch to the consumer business during the lockdown, and for this, he started divesting stake in several of his companies including Petro Chemical. At the same time, plans were made to sell the stake of Reliance Jio and the boom was oriented towards the consumer business.
Made RIL a debt-free company 9 months before targeted March 2021
As a result, in March 2021, Mukesh Ambani achieved the goal of making RIL debt-free 9 months ago. Perhaps it is called two marks with one stone. On July 19, 2020, Mukesh Ambani announced RIL to be a debt-free company, whose sentimental gains would only say that Mukesh Ambani’s company shares crossed 2 thousand and now the company’s consumer-friendly business Reliance Platform, Reliance Tele Communications and 14 major investors in Reliance Retail have invested Rs 1.52 lakh crore in the world.
Reliance Industries Limited had debts of around $ 20 billion.
It did not take much time for Mukesh Ambani to execute the plan to make the company $ 20 billion debt-free. Ambani not only succeeded in making the company debt-free by buying a 9.9% stake in Reliance Jio by social media company Facebook and selling a stake in non-consumer business industries, but after the investment of Facebook, Reliance Jio saw a surge of global investors. .
Facebook company bought 9.9% stake in Reliance Jio
Mukesh Ambani had to divest several stakeholdings before social media company Facebook bought a 9.9 per cent stake in Reliance Jio. These include the retail business of fuel, Ambani raised Rs 7,000 crore by selling a 49 per cent stake. Meanwhile, the company’s $ 15 billion deal with Saudi Arabian oil company Aramco could not be reached. The company had a deal to sell 20 per cent of the shares to the company Aramco.
Big investments like Facebook played a big role in RIL becoming debt free.
The charisma of the steps taken by the RIL company to become debt free will say that Reliance Jio got a big investment like Facebook. Mukesh Ambani recovered the loss in lockdown only after Facebook bought Reliance Jio’s 9.9 per cent stake, because after Facebook there was such a line of global investors in Reliance Jio that RIL made more money than the debt it had By selling stake and rights issue.
Reliance Industries (RIL) declared debt-free on July 19
Reliance Industries (RIL) declared its debt-free on 19 July. During this time Mukesh Ambani had successfully completed RIL’s Rs 53,124.20 crore rights issue and had sold about 39% stake in its digital service branch Jio, which earned the company a total investment of 1.52 lakh crore and RIL by December 2019. But the net worth was close to 1.53 lakh crores.
In 14 weeks, Ambani made 15 deals with 14 global companies for Jio
RIL raised Rs 1.52 lakh crore in 15 deals with 14 global companies for the company in less than 14 weeks. Facebook has 43574 crores, Silver Lake about 5656 crores, Vista 11367 crores, General Atlantic 6598 crores, KKR 11367 crores, Mubadla 9094 crores, Silver Lake 4547 crores, ADAI 5684 crores, TPG 4547 crores, El Caterton has invested 1895 crores, PIF 11367 crores, Intel around 1895 crores, Qualcomm Rs 730 crores and Google 33737 thousand crores.
Ambani losses $ 2.5 billion after 43rd AGM starts
However, Mukesh Ambani lost more than 2.5 billion dollars (about 1 trillion 87 billion rupees 96 crores more) after Reliance Industries Limited’s AGM started. Apparently, his wealth declined and he dropped from sixth place in the world top richest list to top 10, but on Monday, July 13, Ambani’s wealth increased by 3 percent to 2.17 billion in Reliance shares. After the rise of the dollar, he again got the title of the sixth wealthy industrialist of the world.
Ambani’s statement on deal with Saudi Armaco suffered
Mukesh Ambani had a net worth of over $ 72 billion on Wednesday, July 15, which fell to $ 69 billion on Thursday, July 16. The reason for the fall was an announcement by Reliance Industries Ltd. on Wednesday afternoon at the 43rd AGM. At the AGM, the group made a number of big announcements, but Mukesh Ambani’s statement about Saudi Aramco in the oil to the local business made him a market loser, as the deal with Armaco was stuck.
Currently the price per share of RIL is Rs. 2148
But after that, a new round of global investors started in Reliance Jio. As Jio got global investors and REL, which was a debt-free company, increased its credibility, the company shares also gained momentum. Currently, RIL’s share price is Rs. 2010, which has earned investors around 140% returns in the last 4 months. RIL exports have reached more than 2 lakh crores, which is 9.1% of India’s total merchandise exports.
RIL shares price at alltime high, ranking reached 46th
On Thursday, July 23, Reliance Industries was ranked 48th and behind ExxonMobil. The shares price of the company reached an all-time high of Rs 2,163 per share on Friday. The stock closed at 2,146.20 in Friday’s trading session, after which the company’s ranking rose to 46th.
Mukesh Ambani’s $ 5 billion sunk during the Corona epidemic
Mukesh Ambani, chairman of Reliance Industries, has lost assets worth $ 5 billion this year. The company incurred a loss of Rs 53,706.40 crore between 13 and 27 February. However, Aditya Birla Group Chairman Kumar Mangalam Birla’s assets have declined by $ 884 million in this sequence. In just 2 months, IT giant Azim Premji lost $ 869 million, while Gautam Adani lost $ 496 million.
At the 43rd AGM, Ambani said that Reliance Jio has built a 5G solution
The 43rd AGM Ambani concluded on 15 July said that Reliance Jio has created a 5G solution, which will provide world-class 5G service in India. Apart from Jio TV +, Jio Mart, RIL’s debt-free announcement has boosted investor morale, making RIL the first company to make $ 150 billion and the company’s EBITDA to 1 lakh crore.
Mukesh Ambani added assets of $17 billion in the year 2019
2019 was very good for Ambani. According to the Bloomberg Billeniers Index, his wealth has increased by $ 17 billion. His total wealth had increased to $ 61 billion. Talking about Alibaba Group founder Jack Ma (now retired), his wealth grew by $ 11.3 billion this year, while Jeff Bezos’ wealth grew by $ 13.2 billion. This year, Mukesh Ambani’s credit to his company, Reliance Industries, is the biggest contributor to the fortune, which had gained 40 per cent.
India’s first company whose market cap crossed 13 lakh crores
Reliance Industries shares closed at Rs 2076 on BSE, up 3.59 per cent on Thursday. With this, the company’s market valuation crossed Rs 13 lakh crore. The company’s recently issued rights issue and other shares traded separately. The company’s total market valuation stood at Rs 13.5 lakh crore, or over $ 181 billion. Till date, the market capitalization of any Indian company has not crossed the Rs 13 lakh crore mark.
RIL shares rise 4 per cent to all-time high
On Friday, July 24, the company’s stock rose four per cent to its all-time high during trading. The market capitalization of the company’s separately listed partially paid-up shares is Rs 53,821 crore. Thus, the total market capitalization of the company now stands at Rs 14,07,854.41 crore. It crossed the Rs 14 lakh crore mark during trading on Friday. He has achieved this position due to the rise in shares of the company.
Google to invest Rs 33,737 crore in Jio Platforms
At the 43rd AGM of Reliance Industries, Mukesh Ambani announced that Internet giant Google will invest Rs 33,737 crore in Reliance’s venture Jio Platforms. Google will buy a 7.7 per cent stake in the company by investing 33,737 crores in Jio platforms. Explain that Jio Platforms is a digital service venture of Reliance Industries.
RIL world’s second most valuable energy company company
RIL has become the second most valuable energy company in the world, surpassing ExxonMobil after touching a market cap of 14 trillion rupees. According to stock market data, Reliance Industries has become the 48th largest company in the world by market cap. Meanwhile, the company’s chairman Mukesh Ambani has become the 5th richest person in the world, leaving behind Steve Balmer. According to Bloomberg, Mukesh Ambani has assets of $ 77.4 billion.
Mukesh Ambani-JioMart will occupy 50% market by 2024
Within two months of its launch, Geomart has emerged as the first choice of customers in the country’s online grocery segment. The company launched Geomart-App on Google Play Store and Apple App Store a few days ago and in a few days Geomart-App has been downloaded more than 1 million times from Google Play Store. 2.5 lakh orders are being booked daily on Geomart. Reliance’s partnership with Facebook can result in the company becoming a market leader in the online grocery space. The company is expected to have a 50 percent market share by 2024.
Amazon may buy 9.99% stake in Reliance Retail
Amazon plans to buy a 9.99% stake in Reliance Retail, the world’s leading e-commerce company. At his Annual General Meeting (AGM) in July itself, Chairman Mukesh Ambani had informed that Reliance Industries now plans to sell a stake in the retail business.